Xinyi Glass Holdings Limited (0868.HK)

Industry: Construction Materials Sector: Basic Materials Currency Used: HK Live Price: $8.50

Enterprise Value

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Stock Price	8.23	10.48	16.68	25.58	15.58	9.26	9.13	9.28	6.02	4.34	4.23	6.51	4.45	6.09	4.67	2.62	2.82	2.66	1.29	1.02	0.94
Market Capitalization	34,964.32M	43,413.83M	67,636.48M	103,024.83M	62,698.80M	37,102.43M	36,828.22M	37,384.48M	23,844.51M	17,298.13M	16,637.16M	25,706.36M	17,109.15M	22,148.32M	16,672.80M	9,114.54M	9,352.25M	8,704.82M	3,989.78M	3,053.78M	2,076.74M
(-) Cash & Equivalents	1,443.45M	3,207.47M	7,775.90M	8,293.32M	5,013.57M	5,344.47M	4,426.75M	2,244.37M	2,426.64M	1,244.17M	862.93M	961.14M	819.56M	789.19M	513.64M	265.95M	77.38M	79.05M	43.19M	32.44M	55.93M
(+) Total Debt	7,448.94M	10,565.74M	14,679.26M	13,716.97M	11,455.36M	10,612.11M	9,395.07M	8,166.30M	7,242.53M	6,117.24M	5,606.29M	5,056.15M	4,293.66M	4,104.21M	2,313.69M	551.12M	170.89M	170.89M	103.65M	83.48M	150.53M
Enterprise Value	40,969.81M	50,772.09M	74,539.84M	108,448.49M	69,140.58M	42,370.07M	41,796.54M	43,306.41M	28,660.39M	22,171.19M	21,380.51M	29,801.37M	20,583.25M	25,463.34M	18,472.85M	9,399.71M	9,445.76M	8,796.65M	4,050.23M	3,104.82M	2,171.34M

Income Statement

Metric	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31
Revenue	48,694M	55,251M	23,754M	26,799M	25,746M	30,459M	18,616M	16,258M	16,014M	14,728M	12,848M	11,460M	10,861M	9,936M	9,785M	8,227M	6,364M	3,958M	3,894M	2,775M	1,933M	1,381M	1,028M
Cost of Revenue	33,327M	35,078M	16,593M	18,187M	18,276M	15,955M	10,948M	10,474M	10,139M	9,283M	8,189M	8,328M	8,128M	6,799M	7,310M	5,873M	3,809M	2,496M	2,683M	1,702M	1,233M	902M	655M
Gross Profit	15,367M	20,172M	7,161M	8,612M	7,470M	14,504M	7,667M	5,785M	5,875M	5,444M	4,659M	3,133M	2,733M	3,137M	2,475M	2,354M	2,555M	1,462M	1,211M	1,072M	700M	479M	374M
Gross Profit Margin	31.6%	36.5%	30.1%	32.1%	29.0%	47.6%	41.2%	35.6%	36.7%	37.0%	36.3%	27.3%	25.2%	31.6%	25.3%	28.6%	40.1%	36.9%	31.1%	38.6%	36.2%	34.7%	36.3%
R&D Expenses	725M	1,744M	564M	725M	887M	857M	713M	691M	658M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
SG&A Expenses	7,329M	7,483M	3,511M	3,574M	4,198M	4,008M	2,748M	2,632M	2,407M	2,045M	1,822M	1,615M	1,638M	1,251M	1,197M	965M	771M	591M	527M	422M	322M	219M	147M
Operating Expenses	6,470M	7,483M	3,447M	2,968M	2,988M	2,761M	1,410M	2,533M	763M	641M	759M	703M	1,102M	549M	1,087M	866M	659M	630M	443M	346M	290M	201M	122M
Operating Income (EBIT)	8,897M	12,690M	3,714M	5,643M	4,482M	11,743M	6,257M	3,251M	5,113M	4,803M	3,900M	2,430M	1,631M	2,588M	1,388M	1,488M	1,896M	832M	768M	726M	410M	278M	251M
Operating Income Margin	18.3%	23.0%	15.6%	21.1%	17.4%	38.6%	33.6%	20.0%	31.9%	32.6%	30.4%	21.2%	15.0%	26.0%	14.2%	18.1%	29.8%	21.0%	19.7%	26.2%	21.2%	20.2%	24.5%
Interest Income	127M	265M	47M	197M	111M	66M	38M	92M	71M	45M	51M	40M	53M	23M	14M	7M	3M	7M	9M	9M	0M	3M	1M
Interest Expense	507M	813M	181M	503M	372M	155M	193M	274M	214M	151M	128M	90M	91M	83M	71M	32M	7M	15M	24M	34M	12M	3M	1M
Net Interest Income	-380M	-548M	-134M	-306M	-261M	-89M	-155M	-182M	-142M	-107M	-77M	-50M	-38M	-60M	-57M	-25M	-4M	-8M	-15M	-25M	-12M	1M	-1M
Unusual Items	1,351M	1,818M	941M	1,007M	1,779M	1,848M	1,228M	1,307M	0M	0M	0M	0M	0M	1,098M	67M	64M	1M	0M	0M	2M	3M	1M	1M
EBT Excluding Unusual Items	8,516M	12,141M	3,579M	5,337M	4,221M	11,654M	6,102M	3,069M	4,970M	4,696M	3,823M	2,380M	1,593M	2,528M	1,331M	1,463M	1,893M	824M	753M	701M	399M	279M	251M
Pre-Tax Income	9,867M	13,960M	4,520M	6,344M	6,000M	13,502M	7,330M	4,376M	4,970M	4,696M	3,823M	2,380M	1,593M	3,627M	1,398M	1,526M	1,893M	824M	753M	703M	402M	280M	252M
Pre-Tax Margin	20.3%	25.3%	19.0%	23.7%	23.3%	44.3%	39.4%	26.9%	31.0%	31.9%	29.8%	20.8%	14.7%	36.5%	14.3%	18.6%	29.7%	20.8%	19.3%	25.3%	20.8%	20.3%	24.5%
Income Tax Expense	1,928M	2,185M	932M	966M	856M	1,931M	899M	533M	723M	682M	607M	266M	228M	381M	209M	263M	321M	47M	42M	30M	16M	19M	15M
Net Income	7,912M	13,454M	3,585M	5,365M	5,127M	11,556M	6,422M	4,478M	4,237M	4,014M	3,213M	2,113M	1,364M	3,522M	1,188M	1,265M	1,571M	774M	709M	673M	386M	260M	236M
Net Income Margin	16.2%	24.4%	15.1%	20.0%	19.9%	37.9%	34.5%	27.5%	26.5%	27.3%	25.0%	18.4%	12.6%	35.4%	12.1%	15.4%	24.7%	19.5%	18.2%	24.3%	20.0%	18.8%	22.9%
Depreciation & Amortization	2,940M	3,055M	1,405M	1,512M	1,495M	1,533M	1,170M	1,074M	919M	848M	800M	767M	615M	610M	604M	445M	343M	263M	226M	0M	0M	55M	35M
EBITDA	11,837M	15,744M	5,119M	7,155M	5,977M	13,275M	7,427M	4,325M	6,032M	5,651M	4,700M	3,197M	2,247M	3,197M	1,992M	1,933M	2,240M	1,095M	994M	726M	410M	334M	287M
EBITDA Margin	24.3%	28.5%	21.6%	26.7%	23.2%	43.6%	39.9%	26.6%	37.7%	38.4%	36.6%	27.9%	20.7%	32.2%	20.4%	23.5%	35.2%	27.7%	25.5%	26.2%	21.2%	24.2%	27.9%
NOPAT	7,158M	10,703M	2,948M	4,784M	3,843M	10,063M	5,490M	2,855M	4,369M	4,105M	3,281M	2,158M	1,398M	2,316M	1,181M	1,232M	1,575M	784M	725M	695M	394M	259M	237M
NOPAT Margin	14.7%	19.4%	12.4%	17.9%	14.9%	33.0%	29.5%	17.6%	27.3%	27.9%	25.5%	18.8%	12.9%	23.3%	12.1%	15.0%	24.7%	19.8%	18.6%	25.1%	20.4%	18.8%	23.0%
Owner's Earnings	3,318M	10,197M	-16M	3,506M	3,957M	10,084M	3,963M	2,640M	3,393M	3,640M	2,692M	1,046M	288M	1,509M	357M	-1,363M	-291M	-328M	68M	-681M	-70M	-420M	-258M
Owner's Earnings Margin	6.8%	18.5%	-0.1%	13.1%	15.4%	33.1%	21.3%	16.2%	21.2%	24.7%	20.9%	9.1%	2.6%	15.2%	3.6%	-16.6%	-4.6%	-8.3%	1.8%	-24.6%	-3.6%	-30.4%	-25.1%
EPS (Basic)	1.86	3.33	0.86	1.29	1.27	2.87	1.59	1.12	1.06	1.01	0.83	0.54	0.35	0.85	0.32	0.35	0.44	0.22	0.21	0.21	0.12	0.09	0.11
EPS (Diluted)	1.86	3.29	0.84	1.29	1.26	2.83	1.59	1.11	1.05	1.00	0.80	0.52	0.34	0.88	0.31	0.35	0.44	0.22	0.21	0.21	0.12	0.09	0.11
Shares (Basic)	4,259M	4,065M	4,252M	4,152M	4,049M	4,027M	4,027M	4,006M	4,008M	3,969M	3,882M	3,922M	3,921M	3,832M	3,746M	3,598M	3,536M	3,506M	3,384M	3,264M	3,156M	3,006M	2,205M
Shares (Diluted)	4,260M	4,091M	4,252M	4,160M	4,073M	4,077M	4,042M	4,018M	4,035M	4,025M	3,993M	4,031M	4,034M	3,988M	3,849M	3,640M	3,570M	3,515M	3,390M	3,272M	3,156M	3,006M	2,205M

Balance Sheet

Metric	MRQ	MRQ-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31
Cash & Cash Equivalents	1,853.70M	1,549.41M	1,549.41M	1,990.80M	3,321.54M	9,279.74M	5,304.07M	5,142.15M	4,598.51M	3,048.60M	2,763.07M	1,298.26M	831.17M	1,042.43M	703.49M	712.96M	640.26M	531.90M	309.51M	316.21M	172.78M	129.78M	223.71M
Short-Term Investments	92.31M	129.74M	129.74M	398.93M	734.17M	314.46M	223.55M	0.00M	123.79M	58.39M	37.95M	84.34M	0.00M	0.00M	0.00M	0.78M	4.85M	25.78M	6.70M	0.00M	15.23M	0.00M	0.00M
Cash & Short-Term Investments	1,946.01M	1,679.15M	1,679.15M	2,389.73M	4,055.71M	9,594.20M	5,527.63M	5,142.15M	4,722.30M	3,107.00M	2,801.02M	1,382.59M	831.17M	1,042.43M	703.49M	713.75M	645.11M	557.67M	316.21M	316.21M	188.01M	129.78M	223.71M
Net Receivables	7,643.79M	3,495.03M	3,495.03M	3,358.39M	2,648.70M	4,037.88M	3,232.99M	1,713.83M	1,653.66M	2,275.75M	1,562.06M	1,618.87M	1,542.36M	1,619.86M	1,521.37M	0.00M	0.00M	0.00M	0.00M	732.25M	630.16M	0.00M	0.00M
Inventory	3,860.79M	3,715.95M	3,715.95M	3,807.94M	4,296.66M	4,169.16M	2,496.25M	2,044.63M	1,754.51M	1,697.57M	1,320.51M	1,222.66M	1,478.22M	1,231.90M	1,204.32M	1,246.13M	820.35M	678.17M	510.69M	510.69M	371.08M	235.22M	164.18M
Other Current Assets	79.28M	88.46M	88.46M	146.75M	0.00M	0.00M	0.00M	32.68M	14.13M	2.53M	4.98M	1.42M	0.79M	0.79M	68.07M	1,337.80M	0.00M	0.00M	0.00M	0.00M	0.00M	364.93M	255.34M
Total Current Assets	13,529.87M	8,978.59M	8,978.59M	9,702.81M	11,001.06M	17,801.25M	11,256.87M	8,933.28M	8,144.60M	7,082.84M	5,688.57M	4,225.54M	3,852.54M	3,894.98M	3,497.24M	3,297.67M	1,465.46M	1,235.84M	826.90M	1,559.14M	1,189.25M	729.93M	643.23M
Property, Plant & Equipment	23,783.47M	24,097.83M	25,645.21M	23,510.67M	22,701.67M	23,846.53M	21,610.10M	18,565.62M	13,079.44M	12,929.47M	11,830.64M	11,971.02M	11,293.44M	10,458.83M	11,705.50M	9,621.58M	6,485.96M	4,787.85M	3,268.90M	3,278.36M	1,790.02M	1,384.14M	756.64M
Goodwill	0.00M	122.29M	49.17M	55.88M	55.88M	55.88M	55.88M	55.88M	55.88M	55.88M	55.88M	55.88M	55.88M	55.88M	55.88M	0.00M	0.00M	61.76M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	1,243.92M	1,091.99M	1,091.99M	1,183.04M	870.20M	894.25M	484.38M	65.33M	11.60M	13.84M	15.83M	19.08M	22.78M	1,407.38M	29.60M	1,430.63M	992.95M	698.08M	228.26M	228.26M	128.54M	0.00M	0.00M
Long-Term Investments	12,554.76M	9,867.79M	9,867.79M	12,447.46M	15,741.23M	12,215.15M	9,994.13M	7,279.00M	4,718.40M	4,415.66M	3,258.34M	2,535.24M	2,362.36M	2,123.48M	62.72M	51.16M	48.30M	-12.19M	4.67M	11.91M	12.43M	0.00M	0.00M
Tax Assets	4.86M	147.87M	5.15M	4.42M	36,817.84M	110.80M	41.79M	39.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	5.40M	3.82M	8.82M	0.00M	0.00M	3.68M	0.85M	2.21M
Other Non-Current Assets	-1,203.46M	3,284.58M	1,879.93M	0.00M	-36,873.71M	-55.88M	-55.88M	-55.88M	-17,865.32M	-17,414.85M	-15,160.68M	-14,581.21M	-13,734.46M	-14,045.57M	158.57M	202.27M	486.17M	358.94M	309.55M	292.85M	121.11M	244.78M	158.54M
Other Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	5,611.38M	4,958.59M	2,325.12M	1,844.94M	2,494.83M	1,068.70M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Assets	36,383.56M	38,612.36M	38,539.24M	37,201.47M	39,313.09M	37,066.72M	32,130.39M	25,948.98M	5,611.38M	4,958.59M	2,325.12M	1,844.94M	2,494.83M	1,068.70M	12,012.28M	11,311.04M	8,017.20M	5,903.27M	3,811.39M	3,811.39M	2,055.77M	1,629.77M	917.39M
Total Assets	49,913.42M	47,590.95M	47,517.84M	46,904.27M	50,314.15M	54,867.97M	43,387.26M	34,882.26M	13,755.98M	12,041.43M	8,013.69M	6,070.48M	6,347.37M	4,963.68M	15,509.52M	14,608.71M	9,482.66M	7,139.11M	4,638.28M	5,370.53M	3,245.02M	2,359.69M	1,560.61M
Accounts Payable	5,260.66M	1,916.02M	1,916.02M	2,026.08M	2,722.87M	1,483.86M	1,470.60M	1,543.89M	1,273.93M	1,020.23M	948.29M	965.68M	803.18M	773.49M	604.82M	898.13M	1,507.66M	1,361.78M	879.29M	141.01M	98.98M	71.32M	113.33M
Short-Term Debt	4,514.71M	5,778.83M	5,778.83M	5,253.91M	5,794.44M	4,602.68M	3,779.19M	4,459.09M	3,094.44M	2,067.70M	3,165.37M	2,514.02M	2,529.16M	2,115.74M	1,769.97M	1,104.71M	470.52M	579.75M	722.39M	722.39M	334.67M	208.34M	441.81M
Tax Payables	987.12M	0.00M	0.00M	1,207.19M	691.47M	1,346.58M	967.18M	609.66M	611.26M	534.95M	537.94M	332.70M	293.69M	219.17M	207.25M	147.09M	146.90M	24.65M	14.17M	14.17M	12.20M	10.01M	3.96M
Deferred Revenue	0.00M	0.00M	0.00M	613.88M	624.72M	653.81M	499.35M	348.05M	292.95M	-2,067.70M	-3,165.37M	-2,514.02M	-2,529.16M	-2,115.74M	0.00M	0.00M	0.00M	0.00M	0.00M	216.90M	248.29M	94.68M	54.05M
Other Current Liabilities	0.00M	4,136.05M	4,136.05M	2,239.55M	2,049.02M	2,167.99M	1,947.19M	1,457.27M	1,026.18M	0.00M	1,348.64M	1,146.78M	1,175.01M	970.25M	850.43M	994.75M	0.00M	-6.27M	-558.55M	745.71M	472.94M	235.60M	89.00M
Total Current Liabilities	10,762.49M	11,830.90M	11,830.90M	11,340.61M	11,882.51M	10,254.92M	8,663.50M	8,417.96M	6,298.76M	1,555.18M	2,834.87M	2,445.17M	2,271.88M	1,962.91M	3,432.46M	3,144.68M	2,125.08M	1,959.90M	1,057.30M	1,840.18M	1,167.07M	619.94M	702.15M
Long-Term Debt	2,540.05M	2,002.81M	2,002.81M	2,920.12M	7,721.24M	10,890.06M	7,794.82M	6,350.42M	6,874.93M	6,398.68M	4,509.07M	3,514.25M	3,483.46M	3,024.25M	2,495.58M	3,214.10M	2,253.98M	522.50M	484.08M	259.95M	79.92M	125.58M	160.30M
Capital Lease Obligations	6.31M	9.66M	9.66M	17.80M	0.85M	21.51M	52.42M	3.36M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	601.30M	0.00M	616.28M	526.30M	468.08M	454.48M	409.95M	419.40M	417.67M	335.10M	218.13M	159.41M	159.48M	159.51M	101.93M	105.75M	78.64M	5.11M	0.33M	0.33M	0.00M	0.11M	0.46M
Other Non-Current Liabilities	107.76M	735.62M	119.44M	130.10M	51.26M	114.69M	146.21M	132.00M	81.62M	108.20M	48.00M	63.10M	254.85M	179.79M	192.86M	83.26M	0.00M	0.00M	-224.84M	0.00M	-3.41M	0.00M	0.00M
Total Non-Current Liabilities	3,255.42M	2,748.10M	2,748.19M	3,594.33M	8,241.43M	11,480.74M	8,403.40M	6,905.18M	7,374.22M	6,841.98M	4,775.20M	3,736.76M	3,897.80M	3,363.55M	2,790.37M	3,403.11M	2,332.61M	527.61M	259.57M	260.28M	76.50M	125.69M	160.76M
Total Liabilities	14,017.91M	14,578.99M	14,579.09M	14,934.94M	20,123.94M	21,735.65M	17,066.90M	15,323.14M	13,672.98M	8,397.16M	7,610.07M	6,181.93M	6,169.67M	5,326.46M	6,222.83M	6,547.79M	4,457.69M	2,487.51M	1,316.87M	2,100.46M	1,243.57M	745.64M	862.91M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	44.31M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock	408.38M	434.54M	434.54M	422.26M	410.91M	401.87M	403.95M	401.92M	399.32M	401.77M	389.18M	392.18M	392.16M	392.14M	378.56M	368.33M	351.71M	177.31M	172.34M	0.00M	0.00M	824.98M	30.01M
Retained Earnings	28,710.82M	29,338.86M	29,338.86M	31,450.19M	28,601.79M	28,479.04M	23,280.61M	19,188.64M	18,743.14M	16,633.76M	12,619.97M	9,412.50M	7,312.96M	5,970.66M	3,951.21M	3,263.62M	2,969.57M	2,088.33M	168.68M	1,345.36M	998.33M	800.09M	702.25M
Accumulated OCI	3,377.60M	3,464.65M	3,464.65M	1,349.45M	1,677.02M	5,717.74M	3,661.45M	867.62M	938.28M	2,102.24M	-44.31M	1,047.42M	1,196.21M	1,509.66M	-2,531.98M	-1,927.98M	-1,407.62M	-921.68M	-422.26M	0.00M	0.00M	-175.41M	-120.61M
Minority Interest	94.45M	92.36M	92.36M	115.05M	114.95M	107.88M	91.78M	81.09M	77.53M	68.98M	65.96M	7.24M	2.05M	1.14M	4.17M	17.71M	19.63M	20.07M	0.44M	0.44M	1.71M	2.52M	2.13M
Total Shareholders’ Equity	32,496.79M	33,238.04M	33,238.04M	33,221.89M	30,689.72M	34,598.65M	27,346.01M	20,458.18M	20,080.74M	19,137.76M	13,009.15M	10,852.10M	8,901.32M	7,872.46M	1,797.79M	1,703.97M	1,913.67M	1,343.95M	-81.24M	1,345.36M	998.33M	1,449.66M	611.65M
Total Equity	32,591.24M	33,330.40M	33,330.40M	33,336.94M	30,804.67M	34,706.52M	27,437.79M	20,539.27M	20,158.27M	19,206.74M	13,075.11M	10,859.34M	8,903.37M	7,873.60M	1,801.96M	1,721.68M	1,933.29M	1,364.02M	-80.79M	1,345.81M	1,000.03M	1,452.17M	613.78M
Total Liabilities & Equity	46,609.15M	47,909.39M	47,909.49M	48,271.88M	50,928.61M	56,442.18M	44,504.69M	35,862.41M	33,831.26M	27,603.90M	20,685.18M	17,041.27M	15,073.04M	13,200.06M	8,024.79M	8,269.47M	6,390.99M	3,851.53M	1,236.08M	3,446.27M	2,243.61M	2,197.81M	1,476.69M
Tangible Assets	48,669.50M	46,376.67M	46,376.67M	45,665.36M	49,388.08M	53,917.85M	42,847.01M	34,761.05M	13,688.51M	11,971.71M	7,941.98M	5,995.52M	6,268.71M	3,500.43M	15,424.04M	13,178.08M	8,489.71M	6,379.27M	4,410.02M	5,142.27M	3,116.49M	2,359.69M	1,560.61M
Tangible Equity	31,347.32M	32,116.12M	32,189.24M	32,098.03M	29,878.60M	33,756.40M	26,897.54M	20,418.05M	20,090.80M	19,137.02M	13,003.41M	10,784.38M	8,824.71M	6,410.34M	1,716.49M	291.05M	940.34M	604.18M	-309.06M	1,117.54M	871.50M	1,452.17M	613.78M
Tangible Book Value	31,347.32M	32,116.12M	32,189.24M	32,098.03M	29,878.60M	33,756.40M	26,897.54M	20,418.05M	20,090.80M	19,137.02M	13,003.41M	10,784.38M	8,824.71M	6,410.34M	1,716.49M	291.05M	940.34M	604.18M	-309.06M	1,117.54M	871.50M	1,452.17M	613.78M
Total Investments	12,590.16M	9,974.20M	9,974.20M	12,489.84M	16,475.40M	12,529.61M	10,217.68M	7,279.00M	4,798.10M	4,474.05M	3,296.29M	2,619.58M	2,362.36M	2,123.48M	62.72M	51.95M	53.15M	13.59M	11.37M	11.91M	27.66M	11.91M	0.47M
Net Debt	5,201.06M	6,232.23M	6,232.23M	6,183.23M	10,194.14M	6,212.99M	6,269.94M	5,667.37M	5,370.87M	5,417.78M	4,911.37M	4,730.01M	5,181.46M	4,097.57M	3,562.06M	3,605.85M	2,084.24M	570.35M	896.96M	666.13M	241.81M	204.14M	378.40M

Capital Metrics

Metric	MRQ	MRQ-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31
Working Capital	1,960.8M	708.7M	708.7M	2,263.5M	1,016.0M	9,146.2M	4,246.4M	1,883.6M	2,599.8M	2,774.7M	536.3M	36.3M	3.8M	458.2M	724.2M	617.3M	871.3M	54.9M	494.4M	494.4M	270.5M	246.0M	42.5M
Total Capital	42,061.7M	44,272.7M	44,272.7M	43,942.6M	45,509.4M	50,143.8M	39,538.8M	31,662.9M	28,594.1M	26,703.6M	20,868.7M	18,760.1M	18,345.9M	17,347.8M	14,207.5M	12,826.4M	9,260.8M	6,512.8M	4,728.6M	4,728.6M	2,662.6M	2,081.5M	1,399.1M
Capital Employed	38,344.4M	39,321.1M	39,321.1M	39,464.9M	40,329.0M	46,212.9M	36,376.7M	27,832.6M	26,076.5M	25,148.2M	18,022.1M	16,462.5M	16,233.1M	15,572.5M	12,736.4M	11,928.4M	8,888.5M	5,958.2M	4,305.8M	4,305.8M	2,326.2M	1,875.8M	959.9M
Invested Capital	40,208.0M	42,723.3M	42,723.3M	41,951.8M	42,187.9M	40,864.0M	34,234.8M	26,520.8M	23,995.6M	23,655.0M	18,105.6M	17,461.8M	17,514.7M	16,305.4M	13,504.0M	12,113.4M	8,620.5M	5,980.9M	4,419.1M	4,412.4M	2,489.8M	1,951.7M	1,175.4M

Cash Flow Statement

Metric	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31
Net Income	7,912.36M	13,453.96M	3,585.04M	5,365.11M	5,127.15M	11,555.89M	6,422.21M	4,477.79M	4,236.81M	4,013.76M	3,213.43M	2,113.14M	1,363.68M	3,521.94M	1,397.53M	1,526.50M	1,893.14M	824.00M	709.23M	673.00M	385.81M	260.39M	236.96M
Depreciation & Amortization	3,150.26M	3,054.62M	1,588.44M	1,511.92M	1,495.12M	1,532.75M	1,169.60M	1,074.23M	919.21M	847.78M	800.13M	766.87M	615.39M	609.60M	604.09M	445.08M	343.37M	263.25M	225.97M	0.00M	0.00M	55.43M	35.35M
Deferred Income Tax	0.00M	-2,173.20M	0.00M	0.00M	-1,399.82M	-4,078.49M	-3,447.72M	-2,456.63M	-310.76M	811.97M	121.58M	-385.71M	270.13M	973.90M	-328.03M	-260.86M	-132.52M	34.77M	-790.96M	0.00M	0.00M	0.00M	0.00M
Stock-Based Compensation	188.99M	149.23M	86.33M	102.66M	84.48M	64.75M	44.51M	41.55M	32.01M	28.44M	32.23M	24.10M	24.87M	25.25M	40.95M	30.46M	17.72M	19.17M	13.08M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	-530.32M	-1,116.67M	228.05M	-1,203.79M	1,674.90M	-948.24M	-1,064.01M	-266.62M	278.75M	-840.41M	-153.81M	361.61M	-295.00M	-999.15M	-381.11M	-462.91M	-741.41M	198.53M	242.55M	0.00M	0.00M	-83.54M	-51.85M
Accounts Receivable	-1,208.67M	207.49M	89.24M	-1,297.92M	849.43M	-641.94M	-1,641.41M	-458.47M	259.96M	-588.35M	-69.99M	120.20M	-79.73M	-885.41M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	678.36M	-1,324.16M	138.80M	539.56M	-230.22M	-1,093.94M	-206.28M	-198.70M	18.79M	-252.07M	-83.83M	241.40M	-215.27M	-113.74M	69.23M	-385.75M	-121.89M	-60.67M	-86.23M	0.00M	0.00M	-71.04M	-24.15M
Accounts Payable	0.00M	0.00M	15.63M	-445.43M	1,055.69M	787.64M	783.67M	390.56M	-20.07M	511.35M	-63.92M	12.94M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	20.07M	-1,022.69M	127.84M	-25.89M	0.00M	2.53M	-450.34M	-77.17M	-619.52M	259.20M	328.79M	0.00M	0.00M	-12.50M	-27.70M
Other Non-Cash Items	1,005.49M	7,665.42M	1,174.59M	-774.74M	355.94M	3,646.25M	1,819.64M	1,228.06M	-513.25M	-514.83M	-327.02M	-629.11M	-253.95M	-445.57M	57.30M	25.12M	-30.31M	-17.12M	767.79M	-232.96M	-20.19M	-4.55M	-13.70M
Net Cash from Operating Activities	11,726.78M	18,064.76M	6,662.44M	5,001.17M	7,337.78M	11,772.90M	4,944.23M	4,098.38M	4,642.76M	3,534.74M	3,564.96M	2,636.61M	1,455.00M	2,712.07M	1,390.74M	1,303.40M	1,350.00M	1,322.59M	1,167.65M	440.05M	365.62M	227.74M	206.77M
Capital Expenditures (PPE)	-7,535.33M	-6,312.00M	-5,006.34M	-3,371.24M	-2,665.47M	-3,005.08M	-3,628.96M	-2,912.13M	-1,763.16M	-1,221.55M	-1,321.85M	-1,834.15M	-1,691.41M	-2,622.59M	-1,435.27M	-3,072.73M	-2,205.51M	-1,364.97M	-866.75M	-1,354.49M	-455.69M	-735.76M	-529.35M
Acquisitions (Net)	151.34M	-1,289.97M	-0.23M	-132.86M	31.56M	-1,321.53M	28.73M	10.03M	268.49M	21.77M	-7.68M	272.55M	-23.75M	-3.73M	14.11M	-35.95M	-0.57M	-257.96M	-90.34M	-153.78M	-2.83M	0.00M	0.00M
Purchases of Investments	-1,393.90M	-4,966.64M	0.00M	0.00M	-4,927.09M	-2,365.36M	-662.77M	-1,234.07M	-486.16M	-511.29M	-772.03M	-56.20M	-44.00M	-35.23M	-95.20M	-4.53M	-87.07M	-35.34M	-19.80M	-153.31M	-39.64M	0.00M	-0.47M
Sales / Maturities of Investments	2,712.83M	2,499.55M	0.00M	4,187.59M	479.78M	849.20M	200.75M	1,788.75M	155.01M	6.52M	9.68M	27.36M	67.75M	198.10M	41.70M	-414.19M	25.22M	25.11M	12.48M	199.57M	23.88M	0.00M	0.00M
Other Investing Activities	709.09M	76.29M	-992.83M	-561.21M	0.00M	0.00M	0.00M	0.00M	-115.53M	-1,615.06M	-187.85M	70.38M	181.51M	-657.91M	171.10M	427.47M	-14.93M	273.69M	12.72M	32.18M	4.81M	-8.34M	4.06M
Net Cash from Investing Activities	-5,355.96M	-9,992.78M	-5,999.40M	122.29M	-7,081.22M	-5,842.77M	-4,062.26M	-2,347.43M	-1,941.36M	-3,319.61M	-2,279.73M	-1,520.06M	-1,577.65M	-3,121.36M	-1,303.56M	-3,099.95M	-2,282.86M	-1,359.46M	-951.69M	-1,429.83M	-469.47M	-744.10M	-525.76M
Net Debt Issuance	-6,047.52M	1,180.73M	-180.76M	-5,381.52M	-1,935.93M	3,910.31M	764.50M	840.14M	1,502.99M	1,444.82M	1,611.38M	-17.52M	833.19M	823.72M	-822.49M	1,594.31M	1,622.26M	-104.02M	508.20M	125.42M	80.66M	-268.19M	501.23M
Long-Term Debt Issuance	-6,047.52M	1,180.73M	-180.76M	-5,381.52M	-1,935.93M	3,910.31M	764.50M	840.14M	1,502.99M	1,444.82M	1,611.38M	-17.52M	833.19M	823.72M	-59.08M	1,594.31M	1,622.26M	-104.02M	508.20M	125.42M	80.66M	-268.19M	501.23M
Short-Term Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-763.41M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	16.23M	-572.95M	17.54M	171.41M	224.00M	-808.21M	117.27M	111.56M	-304.62M	184.40M	-122.22M	0.60M	-3.19M	781.14M	420.94M	860.42M	-153.92M	513.59M	-244.85M	1,234.36M	186.30M	794.97M	30.00M
Common Stock Issuance	17.53M	440.03M	17.54M	171.41M	224.00M	204.77M	182.57M	136.87M	66.46M	184.40M	142.32M	0.60M	5.28M	916.37M	420.94M	860.42M	33.39M	513.92M	6.24M	1,309.73M	186.30M	794.97M	30.00M
Common Stock Repurchased	-1.30M	-1,012.98M	0.00M	0.00M	0.00M	-1,012.98M	-65.30M	-25.30M	-371.08M	0.00M	-264.54M	0.00M	-8.47M	-135.23M	0.00M	-0.26M	-187.31M	0.00M	-251.08M	-75.37M	0.00M	0.00M	0.00M
Preferred Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.33M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-2,929.80M	-8,833.67M	-1,996.14M	-933.66M	-3,653.12M	-5,180.55M	-1,892.27M	-2,083.93M	-2,123.64M	-1,720.63M	-1,320.61M	-607.87M	-902.09M	-834.46M	-406.66M	-643.54M	-548.97M	-258.21M	-354.66M	-256.75M	-143.75M	-123.44M	-51.20M
Common Dividends Paid	-2,929.80M	-8,833.67M	-1,996.14M	-933.66M	-3,653.12M	-5,180.55M	-1,892.27M	-2,083.93M	-2,123.64M	-1,720.63M	-1,320.61M	-607.87M	-902.09M	-834.46M	-406.66M	-643.54M	-548.97M	-257.86M	-354.43M	-256.75M	-141.33M	-123.44M	-51.20M
Preferred Dividends Paid	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.22M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	722.24M	-81.71M	-52.20M	-37.55M	-37.78M	-40.24M	-14.27M	-4.06M	-1.55M	2.14M	56.20M	0.00M	0.00M	0.00M	763.36M	-1.94M	-2.48M	-14.33M	18.32M	3.75M	-1.14M	13.34M	-95.25M
Net Cash from Financing Activities	-8,238.85M	-8,307.59M	-2,211.56M	-6,181.31M	-5,402.83M	-2,118.69M	-1,024.76M	-1,136.29M	-926.82M	-89.27M	224.74M	-624.80M	-72.09M	770.40M	-44.85M	1,809.26M	916.90M	137.38M	-72.98M	1,106.78M	124.48M	416.68M	384.78M
Effect of FX on Cash	762.33M	-935.79M	798.93M	-131.50M	-811.94M	164.23M	304.72M	-85.16M	-224.68M	159.68M	-45.16M	-24.66M	-16.52M	1.23M	4.97M	55.47M	48.69M	-4.32M	-16.78M	30.18M	11.92M	5.75M	3.10M
Net Change in Cash	-1,165.57M	-3,386.05M	-749.59M	-1,189.36M	-5,958.20M	3,975.67M	161.93M	529.51M	1,549.90M	285.53M	1,464.82M	467.09M	-211.26M	362.34M	47.30M	68.17M	32.73M	96.18M	126.21M	147.18M	32.55M	-93.93M	68.88M
Cash at Beginning of Period	8,729.93M	32,138.44M	1,996.32M	3,180.16M	9,279.74M	5,304.07M	5,142.15M	4,612.64M	3,048.60M	2,763.07M	1,298.26M	831.17M	1,042.43M	680.09M	632.79M	564.62M	531.90M	435.71M	309.51M	162.33M	129.78M	223.71M	154.83M
Cash at End of Period	7,412.23M	28,752.39M	1,549.41M	1,990.80M	3,321.54M	9,279.74M	5,304.07M	5,142.15M	4,598.51M	3,048.60M	2,763.07M	1,298.26M	831.17M	1,042.43M	680.09M	632.79M	564.62M	531.90M	435.71M	309.51M	162.33M	129.78M	223.71M
Operating Cash Flow	11,746.53M	18,064.76M	5,947.84M	5,001.17M	7,337.78M	11,772.90M	4,944.23M	4,098.38M	4,642.76M	3,534.74M	3,564.96M	2,636.61M	1,455.00M	2,712.07M	1,390.74M	1,303.40M	1,350.00M	1,322.59M	1,167.65M	440.05M	365.62M	227.74M	206.77M
Capital Expenditure	-7,535.33M	-6,312.00M	-5,006.34M	-3,371.24M	-2,665.47M	-3,005.08M	-3,628.96M	-2,912.13M	-1,763.16M	-1,221.55M	-1,321.85M	-1,834.15M	-1,691.41M	-2,622.59M	-1,435.27M	-3,072.73M	-2,205.51M	-1,364.97M	-866.75M	-1,354.49M	-455.69M	-735.76M	-529.35M
Free Cash Flow	4,211.20M	11,752.76M	941.50M	1,629.93M	4,672.31M	8,767.82M	1,315.27M	1,186.25M	2,879.61M	2,313.19M	2,243.12M	802.46M	-236.41M	89.47M	-44.54M	-1,769.34M	-855.52M	-42.38M	300.91M	-914.45M	-90.07M	-508.02M	-322.58M

Free Cash Flow

Metric	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31
EBITDA	10,253.35M	14,000.52M	4,490.69M	5,824.92M	3,879.31M	11,171.53M	5,376.54M	3,535.57M	3,729.80M	4,246.81M	3,636.98M	2,285.02M	1,710.85M	2,495.75M	1,882.66M	1,833.47M	2,127.34M	1,133.67M	909.42M	650.84M	378.30M	315.01M	261.62M
(-) Tax Adjustment	2,003.61M	2,191.76M	926.17M	886.58M	553.30M	1,597.77M	659.45M	430.72M	542.24M	617.08M	577.67M	255.45M	245.30M	262.31M	281.21M	315.43M	360.40M	65.20M	51.03M	27.92M	15.05M	21.93M	15.26M
(-) Change In Working Capital	-530.32M	-1,116.67M	228.05M	-1,203.79M	1,674.90M	-948.24M	-1,064.01M	-266.62M	278.75M	-840.41M	-153.81M	361.61M	-295.00M	-999.15M	-381.11M	-462.91M	-741.41M	198.53M	242.55M	0.00M	0.00M	-83.54M	-51.85M
(-) Capital Expenditure	-7,535.33M	-6,312.00M	-5,006.34M	-3,371.24M	-2,665.47M	-3,005.08M	-3,628.96M	-2,912.13M	-1,763.16M	-1,221.55M	-1,321.85M	-1,834.15M	-1,691.41M	-2,622.59M	-1,435.27M	-3,072.73M	-2,205.51M	-1,364.97M	-866.75M	-1,354.49M	-455.69M	-735.76M	-529.35M
Unlevered Free Cash Flow	1,244.73M	6,613.43M	-1,669.86M	2,770.88M	-1,014.36M	7,516.92M	2,152.15M	459.34M	1,145.65M	3,248.59M	1,891.28M	-166.18M	69.14M	610.00M	547.28M	-1,091.78M	302.83M	-495.03M	-250.91M	-731.57M	-92.44M	-359.15M	-231.14M
(-) Net Interest Income After Taxes	-306.05M	-462.35M	-106.63M	-259.77M	-223.51M	-76.00M	-135.98M	-159.77M	-121.76M	-91.03M	-64.63M	-44.61M	-32.61M	-53.43M	-48.74M	-20.80M	-3.10M	-7.95M	-14.08M	-23.68M	-11.07M	0.55M	-0.86M
Net Debt Issuance	-6,047.52M	1,180.73M	-180.76M	-5,381.52M	-1,935.93M	3,910.31M	764.50M	840.14M	1,502.99M	1,444.82M	1,611.38M	-17.52M	833.19M	823.72M	-822.49M	1,594.31M	1,622.26M	-104.02M	508.20M	125.42M	80.66M	-268.19M	501.23M
Levered Free Cash Flow	-4,496.74M	8,256.50M	-1,743.98M	-2,350.87M	-2,726.78M	11,503.23M	3,052.63M	1,459.24M	2,770.40M	4,784.44M	3,567.29M	-139.09M	934.94M	1,487.14M	-226.46M	523.34M	1,928.19M	-591.10M	271.36M	-582.47M	-0.70M	-627.88M	270.95M